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Soybean Oil Market Sees Significant Changes

Posted June 13, 2023
in Top Ag News

July soybean oil has fallen from a high of 70 cents in early November to just 44 cents at the end of May. However, soybean oil has recovered more than a third of the decline in July contracts. July soybeans have rallied 34 cents and are expected to rally even. Higher this week.

However, analysts say seeing a price setback wouldn’t be surprising despite the current momentum. The gymnastics in the soybean oil market can also be seen in KC wheat. Wheat has been beaten up on the futures side until recently. A reversal pattern after a downtrend means U.S. wheat stocks could remain tight.

Read more on futures markets and current issues driving market changes here.

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